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15290286
15290287

7342 N Alger Road, Alma, MI 48801

BF
MI 6506049037
CENTURY 21 Lee-Mac Realty
AV
MI 6506046950
CENTURY 21 Lee-Mac Realty
Listed by CENTURY 21 Lee-Mac Realty
$2,100,000
832 days on market
Updated 96 days ago
Opportunity zone

7342 N Alger Road

Details
Property Type Retail
Sub Type Storefront
Square Footage 15,480
Net Rentable (SqFt) 15,480
Units 11
Cap Rate 8.34%
NOI $175,169
Occupancy 75%
Tenancy Multi
Brand/Tenant AT&T, Wild Bills Tobacco
Lease Type Modified
Remaining Term 2
Pro-Forma Cap Rate 11.06%
Pro-Forma NOI $232,200
Year Renovated 2018
Buildings 3
Stories 1
Lot Size (SqFt) 82,764
Zoning Commercial
Tenant Credit No Credit Rating
Ownership Private

Retail | 8.34% CAP | 15,480 SqFt

Marketing description

N. on Wright Avenue from Superior. Welcome to an exceptional investment opportunity – the SCA Plaza! This prime property boasts a strategic location directly in front of the bustling Meijer department store, ensuring a steady flow of foot traffic and high visibility for the 11 units within. With over 15,000 square feet of versatile space, SCA Plaza provides an ideal canvas for a range of businesses, from retail shops and eateries to service providers and offices. The well-designed layout of the plaza ensures each unit benefits from maximum exposure, contributing to the overall success of the businesses within. The convenience of being adjacent to Meijer, a renowned and established retail giant, adds unparalleled value to this property. Patrons of the department store are likely to explore the offerings in Meijer Plaza, creating a symbiotic relationship that can significantly enhance the success of businesses operating here. This is not just a property; it's a strategic investment poised for success. The Meijer Plaza offers investors the chance to tap into a vibrant and thriving commercial hub. The local community's needs are met with the plaza's diverse range of units, ensuring a steady stream of customers from various demographics.

Investment highlights

15,480Sq’ of rent space

In the heart of the shopping area in historic Alma

Solid, long term tenants

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Listing Contacts

BF
MI 6506049037
CENTURY 21 Lee-Mac Realty
AV
MI 6506046950
CENTURY 21 Lee-Mac Realty
Listed by CENTURY 21 Lee-Mac Realty

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$175,169.00
$14,597.42/mo

Valuation Metrics

0
DSCR
8.34%
Cap Rate
8.34%
ROI

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Additional Information

Name
Bob Fall
License
6506049037
Brokerage Address
605 Warwick Drive
Name
Adam Vibber
License
6506046950
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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